🔍 Market Overview (H1 Timeframe)
The GBP/JPY pair is trading within a tight consolidation range, following a recent bullish breakout on higher timeframes. However, on the H1 chart, momentum is beginning to show signs of exhaustion, with price action forming short-term resistance around the ¥193.50–¥193.80 zone.
📊 Technical Analysis (H1 Chart)
🔹 Trend Direction:
Short-Term: Sideways to Slightly Bullish
🔹 Key Levels
Resistance:
¥193.50 – Strong horizontal level
¥193.80 – Intraday swing high
🎯 Trading Plan (H1 Timeframe)
🔸 Scenario 1: Breakout Trade (Bullish Continuation)
Entry: Buy on breakout and close above ¥193.80
Stop Loss: Below ¥193.30
Take Profit:
TP1: ¥194.50
TP2: ¥195.20
🔸 Scenario 2: Range Rejection / Short-Term Pullback
Entry: Sell on rejection at ¥193.50–¥193.80 zone
Stop Loss: Above ¥194.00
Take Profit:
TP1: ¥192.80
TP2: ¥192.20
📅 Weekly Outlook Summary
GBP/JPY on the H1 timeframe is poised for a key directional breakout. Bulls must clear ¥193.80 to reassert control, while bears may look for signs of exhaustion to play the short-term reversal. Traders should remain flexible and focus on price action near key levels, supported by momentum confirmation.
The GBP/JPY pair is trading within a tight consolidation range, following a recent bullish breakout on higher timeframes. However, on the H1 chart, momentum is beginning to show signs of exhaustion, with price action forming short-term resistance around the ¥193.50–¥193.80 zone.
📊 Technical Analysis (H1 Chart)
🔹 Trend Direction:
Short-Term: Sideways to Slightly Bullish
🔹 Key Levels
Resistance:
¥193.50 – Strong horizontal level
¥193.80 – Intraday swing high
🎯 Trading Plan (H1 Timeframe)
🔸 Scenario 1: Breakout Trade (Bullish Continuation)
Entry: Buy on breakout and close above ¥193.80
Stop Loss: Below ¥193.30
Take Profit:
TP1: ¥194.50
TP2: ¥195.20
🔸 Scenario 2: Range Rejection / Short-Term Pullback
Entry: Sell on rejection at ¥193.50–¥193.80 zone
Stop Loss: Above ¥194.00
Take Profit:
TP1: ¥192.80
TP2: ¥192.20
📅 Weekly Outlook Summary
GBP/JPY on the H1 timeframe is poised for a key directional breakout. Bulls must clear ¥193.80 to reassert control, while bears may look for signs of exhaustion to play the short-term reversal. Traders should remain flexible and focus on price action near key levels, supported by momentum confirmation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.